We don't have enough volume to indicate a falling market yet. I believe people are all moving to a hold / wait and see.
Too technical for me. However, I agree with you. Most people are wait-see. Just take a walk around the SFH streets. Only a few For Sale signs. But, also very few SOLD signs.
IMO, the first hurdle is the provincial election. If there are no surprises, we will just have to let the market decide what it wants.
A stalemate can last for years (like Singapore). However, the final key is mortgage interest rates. Should % rise as the market edges up, then the buyers will capitulate. On the other hand, a slipping market as % rise will stampede the sellers.
These are great days.